Ad valorem is Latin for "according to value. Ad Valorem taxes apply to real estate properties. Your town has recently passed a Budget of $79.5 million for next year. Total assess values of the all Real Estate properties in the town is $3, 976 million. According to the town, your home has a assessed value of $280,000. This means your quarterly ad valorem taxes for the next year are likely to be:

	a.	$ 1,250
	b.	$ 5,599
	c.	$ 1,400
	d.	$ 975